CoinAnalyst Corp. Provides Bi-Weekly Status Report
Toronto, Ontario--(Newsfile Corp. - June 30, 2022) - CoinAnalyst Corp. (CSE: COYX) (FSE: 1EO) (the "Corporation") is providing this bi-weekly default status report (the "Default Status Report") in accordance with National Policy 12-203 - Cease Trade Orders for Continuous Disclosure Defaults ("NP 21-203"). On April 26, 2022, the Corporation announced (the "Default Announcement") that, for reasons disclosed in the Default Announcement, the filing of the Corporation's audited annual financial statements, management's discussion and analysis, and related certifications for the fiscal year ended December 31, 2021 (collectively, the "Annual Filings"), would not be completed by the prescribed deadline of May 2, 2022.
As a result of this delay in filing the Annual Filings, the Corporation's principal regulator, British Columbia Securities Commission, granted a temporary management cease trade order (the "MCTO") to the Corporation. The MCTO prohibits all trading by the Chief Executive Officer and the Chief Financial Officer of the Corporation, and such other directors, officers and persons as determined by the applicable regulatory authorities, in securities of the Corporation until the MCTO is revoked. The Corporation's board of directors and management will be unable to meet the Corporation's obligations relating to the filing of the Annual Filings on or before June 30, 2022. The Corporation requested and has been granted a two-week extension by the Corporation's principal regulator, British Columbia Securities Commission and continues to work expeditiously with its auditors to finalize the Annual Filings.
Pursuant to the provisions of the alternative information guidelines specified by NP 12-203, the Corporation reports that since the Default Announcement there have not been any changes to the information contained therein that would reasonably be expected to be material to an investor, not any failure by the Corporation to fulfil its intentions as stated therein with respect to satisfying the provisions of the alternative information guidelines, and there are no additional defaults or anticipated defaults subsequent to the disclosure therein, other than the delay in filing the Annual Filings.
Further, there is no additional material information respecting the Corporation and its affairs that have not been generally disclosed and there are no insolvency proceedings against the Corporation as of the date of this Default Status Report. Until the Annual Filings have been filed, the Corporation intends to continue to satisfy the provision of the alternative information guidelines specified by NP 12-203 by issuing bi-weekly status default repots in the form of press releases, which will also be filed on SEDAR at www.sedar.com.
About CoinAnalyst Corp.
CoinAnalyst focuses on the business which includes an artificial intelligence ("AI")-based big data analytics platform (the "Platform") that enables investors in the digital asset sector and other industries to access a dashboard. The dashboard monitors and analyzes real-time data from the digital asset market (Coins/Tokens/NFTs/initial offerings). The Corporation's software monitors news sources, tracks influencers, scans online social media, and provides sentiment analysis, forecast and trade signals on the top 300 digital assets. Additionally, the software system provides news, price quotes and allows for messaging.
To learn more about CoinAnalyst, please visit https://coinanalyst.tech/en/.
For more information, please contact:
Chief Operating Officer and Director
Phone: + 49 69 2648485 - 20
Certain information set out in this news release constitutes forward-looking statements or information. Forward-looking statements are often, but not always, identified by the use of words such as "seek", "anticipate", "plan", "continue", "estimate", "expect", "may", "will", "intend", "could", "might", "should", "believe" and similar expressions. In particular, this news release contains forward-looking statements in respect of among other things: the filing of the Annual Filings and the timing thereof; the continued satisfaction of the requirements of the MCTO; the continued and successful development of the businesses and technologies of Corporation; and other information concerning the intentions, plans, future action and future successes of the Corporation, and its businesses, technologies and products described herein. Forward-looking statements are based upon the opinions and expectations of management of the Corporation as at the effective date of such statements and, in certain cases, information provided or disseminated by third parties. Although the Corporation believes that the expectations reflected in such forward-looking statements are based upon reasonable assumptions, and that information obtained from third party sources is reliable, they can give no assurance that those expectations will prove to have been correct. Readers are cautioned not to place undue reliance on forward-looking statements included in this document, as there can be no assurance that the plans, intentions or expectations upon which the forward-looking statements are based will occur. By their nature, forward-looking statements involve numerous assumptions, known and unknown risks and uncertainties that contribute to the possibility that the predictions, forecasts, projections and other forward-looking statements will not occur, which may cause actual results in future periods to differ materially from any estimates or projections of future performance or results expressed or implied by such forward-looking statements. These risks and uncertainties include, among other things, risk factors set forth in the Corporation's most recent management's discussion and analysis, a copy of which is filed on SEDAR at www.sedar.com, and readers are cautioned that the risk factors disclosed therein should not be construed as exhaustive. These statements are made as at the date hereof and unless otherwise required by law, the Corporation does not intend, or assume any obligation, to update these forward-looking statements.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/129694